Park Avenue Securities LLC Makes New $283,000 Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Park Avenue Securities LLC purchased a new position in Royal Caribbean Cruises Ltd. (NYSE:RCLGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,377 shares of the company’s stock, valued at approximately $283,000.

Several other institutional investors have also modified their holdings of RCL. Massmutual Trust Co. FSB ADV grew its stake in shares of Royal Caribbean Cruises by 303.5% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 347 shares of the company’s stock worth $27,000 after acquiring an additional 261 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter worth $37,000. Allegheny Financial Group LTD acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter worth $40,000. Landmark Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the first quarter worth $50,000. Finally, First Command Bank grew its stake in shares of Royal Caribbean Cruises by 24.1% during the first quarter. First Command Bank now owns 772 shares of the company’s stock worth $65,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 73.74% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $34.91 on Thursday. The company has a 50-day simple moving average of $42.40 and a 200-day simple moving average of $65.37. Royal Caribbean Cruises Ltd. has a one year low of $31.09 and a one year high of $98.27. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.37 and a current ratio of 0.40. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of -1.68 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCLGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($4.57) EPS for the quarter, beating analysts’ consensus estimates of ($4.68) by $0.11. Royal Caribbean Cruises had a negative net margin of 207.74% and a negative return on equity of 83.99%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company earned ($4.44) earnings per share. The business’s revenue was up 2421.1% compared to the same quarter last year. On average, analysts predict that Royal Caribbean Cruises Ltd. will post -6.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays assumed coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, June 28th. They set an “overweight” rating and a $56.00 target price for the company. Truist Financial lowered their target price on shares of Royal Caribbean Cruises from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Morgan Stanley lowered their target price on shares of Royal Caribbean Cruises from $59.00 to $54.00 and set an “underweight” rating for the company in a research note on Wednesday, June 8th. StockNews.com upgraded shares of Royal Caribbean Cruises to a “sell” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Royal Caribbean Cruises from $76.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Hold” and a consensus target price of $76.10.

Royal Caribbean Cruises Profile

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Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

See Also

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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